The James Webb Space Telescope (JWST) is a large aperture (6.5 meter), cryogenic space telescope with a suite of near and mid-infrared instruments covering the wavelength range of 0.6 microns to 28 microns. JWST's primary science goal is to detect and characterize the first galaxies. It will also study the assembly of galaxies, star formation, protoplanetary systems, and the formation of evolution of planetary systems. We will review recent progress in the design of JWST' s observatory architecture leading up to JWST's recent Mission Preliminary Design Review (PDR). In particular, we will discuss the status of JWST's optical system, the current status of the telescope mirror fabrication effort, the final design of the observatory sunshield and the plans for integration and test. In this context, we will discuss the expected scientific performance of the observatory.